GS Retail to Advance 180 Billion KRW Payments to Franchisees and Partners Ahead of Seollal

GS Retail announced on the 9th that it will advance the payment of a total of 180 billion KRW in settlement funds and merchandise payments to GS25 franchise owners and partner companies in celebration of the Lunar New Year.

GS Retail decided to advance and sequentially pay the merchandise payments to partner companies supplying products to convenience store GS25 and home shopping GS Shop between the 16th and 18th, and to advance the settlement payments to GS25 franchise owners on the 20th. This schedule is up to about 20 days earlier than the original payment dates.

Considering the difficult economic environment due to rapid price increases and interest rate hikes, GS Retail hastened the establishment of this early payment schedule ahead of the Lunar New Year. Through this, GS25 franchise owners will be able to secure urgent funds needed for the holiday, and partner companies supplying merchandise are expected to manage their finances smoothly, the company said.

Oh Jin-seok, Vice President of GS Retail, said, “Ahead of the nation’s major holiday, the Lunar New Year, and considering the difficult economic situation, we decided to promote early payments to support franchise owners and partner companies. GS Retail will continue to take the lead in growing together with franchise stores and partner companies and building a culture of mutual prosperity.”